Balance Sheets of Babul & Supriyo Co. are given as follows:
|
Liabilities |
Year 2007 |
Year 2008 |
Assets |
Year 2007 |
Year 2008 |
|
Current Liabilities |
1,20,000 |
1,50,000 |
Cash |
50,000 |
30,000 |
|
Loan from Babul |
— |
70,000 |
Debtors |
70,000 |
70,000 |
|
Bank Loan |
1,80,000 |
1,20,000 |
Stock |
80,000 |
80,000 |
|
Capital |
2,40,000 |
4,20,000 |
Land |
1,00,000 |
140,000 |
|
Building |
1,20,000 |
2,00,000 |
|||
|
Machinery |
1,60,000 |
2,20,000 |
|||
|
5,40,000 |
7,60,000 |
5,40,000 |
7,60,000 |
During the year 2008 Babul & Supriyo introduced an additional capital of Rs. 50,000 and drew Rs. 70,000.
Provision for depreciation on Machinery: Opening balance—Rs. 60,000 and Closing balance—Rs. 90,000. No depreciation was provided on the other assets. The value of building was increased by Rs. 20,000 and the same was adjusted with the Capital Account. Prepare the Cash Flow Statement of Babul & Supriyo Co. for the year 2008.